60 Ashgrove Ln · Oak Level, VA 24055

$88,900

1 bd · 1.0 ba · 792 sqft · SingleFamily public records · 70 Days on market

Built 1900 2.50 ac lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.6/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +6.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0

Listing remarks MLS

Great starter property. Three dwellings on property with 3 septics and 1 well. An old farm home to the back of the property with power lines run to it. A single wide at the middle of the property. There is a tenant in the single wide trailer who pays $200 a month. The Tenant retains a Lifetime Occupancy Rights on the single wide trailer. There is also a doublewide to the front of the property. Please do not enter any of the properties.

Key facts

• Old farm home
• One well
• Three septics

Tags

• THREE DWELLINGS
• THREE SEPTICS
• ONE WELL
• OLD FARM HOME

🏷️ Possibly a rental listed for sale. The $88,900 price doesn't fit this home's estimated sale value (~$195,624) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#513 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime D+, amenities F, commute F.
• Franklin County Public School District (town): math 69% / reading 72% proficiency, ranked #24 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Henry Elementary (math 67% / reading 62%, grade B, #416 of 1,108 statewide, top 41%, 172 students, 76% FRL); Benjamin Franklin Middle (math 64% / reading 72%, grade A-, #94 of 342 statewide, top 28%, 1,397 students, 74% FRL); Franklin County High (math 79% / reading 82%, grade A, #57 of 319 statewide, top 18%, 1,904 students, 74% FRL) — zoned schools average 75% FRL vs 45% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 167 units permitted in Franklin County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Franklin County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $10k; list at $89k implies a 789% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,566 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $195,624
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
777 Fairfield Rd	0.34mi	2/1.0 (+1)	900 (+14%)	13mo	$222,500	$247	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-3,708
• Equity at exit: $13,255

10-year hold

• IRR: 5.7%
• Equity multiple: 1.43×
• Total profit: $10,588
• Equity at exit: $7,686

Cash invested: $24,892 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 24055

• Home prices YoY: -2.3%
• Active inventory: 76
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $990 medium
• Mortgage (P&I): −$466
• Tax est. 1.5%: −$111 /mo · $1,334/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $168

Break-even live

Break-even rent $778

Max offer price $88,900

Occupancy floor 78%

Sensitivity live

Price	-10% $229	-5% $198	+0% $168	+5% $137	+10% $106
Rent	-10% $90	-5% $129	+0% $168	+5% $207	+10% $246
Rate	-1.0pp $213	-0.5pp $190	base $168	+0.5pp $145	+1.0pp $121

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,225
• Closing costs: $2,667
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
483 Virgil H Goode Hwy Bassett, VA	2.0	2.0	900	$990	$1.10	45d	1	1.11mi

Listing history 22 events

1. 2026-06-21
   days on market $88,900 Active 70 DOM
2. 2026-06-18
   days on market $88,900 Active 67 DOM
3. 2026-06-17
   days on market $88,900 Active 66 DOM
4. 2026-06-16
   days on market $88,900 Active 65 DOM
5. 2026-06-15
   days on market $88,900 Active 64 DOM
6. 2026-06-14
   days on market $88,900 Active 62 DOM
7. 2026-06-13
   days on market $88,900 Active 61 DOM
8. 2026-06-10
   days on market $88,900 Active 59 DOM
9. 2026-06-09
   days on market $88,900 Active 58 DOM
10. 2026-06-08
    days on market $88,900 Active 57 DOM
11. 2026-06-07
    pricedays on market $88,900 Active 56 DOM
12. 2026-06-02
    days on market $89,900 Active 51 DOM
13. 2026-06-01
    days on market $89,900 Active 50 DOM
14. 2026-05-31
    days on market $89,900 Active 49 DOM
15. 2026-05-30
    days on market $89,900 Active 48 DOM
16. 2026-05-14
    status Active 439-char remark

    Show marketing remark (439 chars)

    Great starter property. Three dwellings on property with 3 septics and 1 well. An old farm home to the back of the property with power lines run to it. A single wide at the middle of the property. There is a tenant in the single wide trailer who pays $200 a month. The Tenant retains a Lifetime Occupancy Rights on the single wide trailer. There is also a doublewide to the front of the property. Please do not enter any of the properties.

17. 2026-05-13
    historical 439-char remark

    Show marketing remark (439 chars)

    Great starter property. Three dwellings on property with 3 septics and 1 well. An old farm home to the back of the property with power lines run to it. A single wide at the middle of the property. There is a tenant in the single wide trailer who pays $200 a month. The Tenant retains a Lifetime Occupancy Rights on the single wide trailer. There is also a doublewide to the front of the property. Please do not enter any of the properties.

18. 2026-05-06
    status Active 439-char remark

    Show marketing remark (439 chars)

    Great starter property. Three dwellings on property with 3 septics and 1 well. An old farm home to the back of the property with power lines run to it. A single wide at the middle of the property. There is a tenant in the single wide trailer who pays $200 a month. The Tenant retains a Lifetime Occupancy Rights on the single wide trailer. There is also a doublewide to the front of the property. Please do not enter any of the properties.

19. 2026-04-16
    listed $89,900 Active 439-char remark

    Show marketing remark (439 chars)

    Great starter property. Three dwellings on property with 3 septics and 1 well. An old farm home to the back of the property with power lines run to it. A single wide at the middle of the property. There is a tenant in the single wide trailer who pays $200 a month. The Tenant retains a Lifetime Occupancy Rights on the single wide trailer. There is also a doublewide to the front of the property. Please do not enter any of the properties.

20. 2026-04-12
    listed $89,900 Active 439-char remark

    Show marketing remark (439 chars)

    Great starter property. Three dwellings on property with 3 septics and 1 well. An old farm home to the back of the property with power lines run to it. A single wide at the middle of the property. There is a tenant in the single wide trailer who pays $200 a month. The Tenant retains a Lifetime Occupancy Rights on the single wide trailer. There is also a doublewide to the front of the property. Please do not enter any of the properties.

21. 2023-10-30
    soldstatus $10,000
22. 1985-07-05
    soldstatus $11,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,880
• − Mortgage interest: −$4,980
• − Property taxes: −$1,334
• − Insurance: −$444
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$2,586
• Taxable income: $635
• Est. tax owed @ 24.0%: −$152
• After-tax cash flow: $1,860/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Franklin County Public School District
• NCES district ID: 5101440
• Math proficiency: 69% ▼ -17.00%
• Reading proficiency: 72% ▼ -8.00%
• Median HH income: $47,093
• Composite: 59.5/100
• National rank: #921
• State rank: #24 of 131 in VA

Livability — Oak Level

• Score: 56/100
• State rank: #513
• US rank: #22992

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment F Housing A- Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,520

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 56,242 people
• By 2030: 55,742 · -0.9%
• By 2040: 53,669 · -4.6%
• By 2050: 50,291 · -10.6%
• By 2075: 42,395 · -24.6%
• By 2100: 32,981 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 14% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Iranian 2% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+45.3) · D 26.9% · R 72.2%
• 2008→2024 swing: -22.5pp toward R · 2008: -22.8pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+42.1 2016: R+42.2 2012: R+28.6 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.19%
• Current HPI: 217.0023
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+717.3% since first listed

7 events — show timeline

• 2026-05-14 Relisted — MHPCAR
• 2026-05-13 Delisted — MHPCAR
• 2026-05-06 Relisted — MHPCAR
• 2026-04-16 Listed $89,900 MHPCAR
• 2026-04-12 Listed $89,900 MLSRV
• 2023-10-30 Sold (Public Records) $10,000 Public Records
• 1985-07-05 Sold (Public Records) $11,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $151 · +0.0% YoY. Source: county tax records.